Corporate governance

• Main Authors: Chin-Shu Pan, 潘金樹
• Other Authors: ming-tien tsai
• Format: Others
• Language: zh-TW
• Published: 2005
• Online Access: http://ndltd.ncl.edu.tw/handle/70072411064197566794

碩士 === 國立成功大學 === 高階管理碩士在職專班 === 93 === 　　After the financial meltdown in Southeast Asia and after fraudulence of enterprises, such as Enron, Xerox, and WorldCom, happening in the United States, corporate governance has become the focus subject for discussion again. Many international organizations invest in considerable resources and much time to study the solution when facing similar crises afterwards. Since February 2002, our securities authority has also required that a listed company for the first time set two independent directors and one independent supervisor and expected to give an impetus to establish the system of corporate governance in Taiwan by using a gradual way. 　　Prior scholars’ studies in Taiwan typically probed the effects of setting independent directors and supervisors voluntarily on managerial achievements. However, the corporate properties make it essential to set independent directors and supervisors voluntarily and also have relation to managerial achievements. This study is discussed that those corporations under the requirement of setting independent directors and supervisors according to law whether the result conforms to the anticipation of the authority, and whether there are positive effects on managerial achievements. This study takes 152 listed companies for the first time during 2002 as samples and compares the variations of managerial achievements between earlier and later stages in listed companies which set the system of independent directors and supervisors with those in listed companies which do not set it. Considering the effect of fluctuant economics prosperity, this study randomly chooses a contrastive company from the companies in samples, compares the rising or the falling extent of managerial achievements in earlier and later stages between a sample company and a contrastive one, and tackles the effect of setting independent directors and supervisors according to law. 　　This study finds that listed companies for the first time setting independent directors and supervisors according to law have positive effects on their managerial achievements when comparing the variations of managerial achievements in earlier stages with those in later stages. It also obtains the same conclusion in the some trade. Hence, this study concludes that companies which set the system of independent directors and supervisors according to law have better managerial achievements than those which do not set the system and that setting the system has positive effects on advancing the function of corporate governance in Taiwan.